The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-05-07
r.. G. Dun & Co.'s Weekly Review.

NEW YORK. May 6.-R. G. Dun s. Co.'S
Weekly Trade Review says: 1.-THE feature of
business reports for the past week is the enor-
nous increase reported at many Western points.
In that section the interstate act, though check
ing trade at some important points. seems to
have produced a feeling of extraordinary conf
dence in much larger number of towns.
Other causes, particularly the speculation. in
real estate and the activity in building, contrib
ute to swell transactions surprisingly. At Gin
cinnati clearings show an increase of 30 per
cent. over last year, at St Louis 16 per cent,
and at Chicago IA; but st. Paul and San Fran
CISCO report gains of 43 per cent; Memphis. ST.
Joseph and Peoria exceed 30 per cent; Indianapo
lis and Denver. nearly 80 per cent; Omaha, 90 per
cent. and Wichita, Kan. 10 per cent. Apart
from lard trading and new building. other bust
ness has been reasonably active throughout that
region Denver notes increase in yield of
precious metals St. Paul, large output of
flour; Cleveland, Cincinnati and Milwaukee a
distinct Improvement in trade and collections,
pie. At Memphis the activity noted is mainly
in real estate and building. Eastern cities do
not find corresponding Improvement in trade.
At Philadelphia exchanges show little increase.
Large amounts of capital are goin, thence to
the West mortgage lo-Ds."
The boot and shoe business still improves but
wooden manufacture is depressed by slow de-
mand for goods, and several New England mills
have stopped or reduced time The high prices
being paid for new wool at the West, it is
claimed, will make profitable manufacture i'm
possible for many. The dry goods market is
quiet, though prices well maintained In
the grocery trade there is much complaint of
dullness, and sugar has yielded a shade. spices
and tea being dull and moasses steady. In
spite of active Speculation in coffee. the demand
for consumption is limited. Railroad earnings
give proof that, while traffic is large the increase
falls far short of reported gains in the volume of
business at the West
Reports of railroads for April, so far, show
average increase of II per cent. in gross earn
ings over last year Wheat exporting is checked
by a corner in near options, which has advanced
prices 31c. Cotton futures for June also
cornered, ana have advanced a quarter.
sales of bar at &c are not unusual at
Philadelphia and there are reports
of large sales of pig at a concession.
while some rail mills open for orders at $36.
Already 967 miles of railroad have been com
pleted, against 652 to date last year, and new
securities offered in great variety and large
amount, but the uncertain prospects as to rates
and respecting the decisions of the Interstate
commerce Commission affects Investments in
stocks, though prices have improved a little.
The enormous supply of money goes far to ex-
plain the situation. Not only has the Treasury
added about 81. 1927, 600 to the circulation in
April, but the abundance and cheapness of
money in London are clearly felt here. I'm
doubtedly, large amounts of foreign capital are
seeking employment here. in industries in
rea-estate loans. because of the inadequate de-
mand abroad. While this state of things con-
tinues, and crop prospects grow moro favorable,
the season of speculation and expansion trade
and industry is not likely to meet a reaction.
The business failures during the last seven
days number. for the United States, 153: fog
Canada. 90; total, 182, against 19l last week,
and 1872 for the corresponding week of last year.